As a seasoned researcher with a keen eye for detail and a knack for uncovering hidden truths in the cryptocurrency world, I find myself both excited and cautious about the recent Scroll (SCR) token airdrop on Binance. The massive participation by Binance users to farm SCR tokens is a testament to the project’s potential and the growing interest in decentralized finance (DeFi).
Recently, Binance crypto exchange unveiled its 60th project, Scroll (SCR), through their Launchpool platform. The distribution of SCR tokens via Binance farming and other equitable methods has generated substantial interest, with over 1.56 million Binance users locking approximately 18 million BNBs (worth around $599.7 each) in the BNB pool to farm these Scroll tokens.
Over 82,000 individuals secured approximately $2.29 billion within the FDUSD pool, primarily to cultivate SCR tokens. This significant action has fueled great anticipation for the upcoming Scroll token distribution, making it one of the most highly-awaited airdrops in recent history.
In the interim, Binance has disclosed that it will introduce SCR trading pairs with both Bitcoin and USDT on its main trading platform, following the end of the pre-market trading session on October 21st.
Scandals in the Scroll Token Airdrop Uncovered
Based on findings by crypto investigator Andrew 10 Gwei, it appears that members from the Scroll core team have been receiving airdrops of the SCR token in their wallets over the past period. Andrew 10 Gwei pointed out that some of the wallets belonging to Scroll’s founders received amounts ranging from 10,000 to 1 million units, which are correlated with the SCR token airdrop distribution.
Andrew pointed out that the majority of wallets marked over 200k on this top are project wallets, such as L0, Orbiter, Rhino, Owlto, Relay, and others. These wallets are crucial for executing their bridge contracts and handling numerous transactions, numbering in the tens and hundreds of thousands.
As an analyst, I find myself anticipating the SCR token airdrop with keen interest. Given that the founders’ wallets are primed to potentially hold a significant portion of the tokens post-airdrop, it’s an intriguing prospect to monitor closely.
To the esteemed members of the Scroll_ZKP team, specifically SandyZKP and ShenHaiChen, here’s an opportunity to demonstrate integrity: consider excluding project and team wallets from the airdrop. This action would help make the Scroll Airdrop less controversial and minimize FUD (Fear, Uncertainty, Doubt).
— Andrew 10 GWEI (@Andrey_10gwei) October 17, 2024
The group behind Scroll’s founding, headed by Sandy and Haichen Shen, has recently faced scrutiny for allegedly attempting to deceive the community in relation to an upcoming airdrop. Contrarily, the intended purpose of this SCR token airdrop was to strengthen the protocol’s decentralization by bestowing users with decision-making authority.
Previously discussed on Coinspeaker, the SCR token’s total supply stands at one billion. Out of this, 15% is earmarked for an airdrop. The contributors of Scroll received a combined total of 23% of the SCR tokens. Similarly, 17% was set aside for investors in Scroll. The remaining 35% and 10% were designated for the growth of Scroll’s ecosystem and the Scroll Foundation respectively.
Market Picture
In the previous year, Scroll successfully secured $50 million from multiple investors, with Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, and Newman Capital taking the lead. This investment was intended to facilitate the development of a smooth, zero-knowledge rollup on the Ethereum network, as per the company’s commitment.
At present, the Scroll network boasts a sum of approximately $968 million in total value secured, along with a stablecoin market capitalization of roughly $140 million. Some notable DeFi projects thriving on the Scroll network include Pencils protocol, AAVE V3, Tokan Exchange, and others.
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2024-10-18 17:51